Okay, so the indicator repeats with the solid holder. Sounds like you need a better holder, maybe like this one.
I got frustrated when doing concentricity checks with the articulating arm Nogas on my lathe and mill - too much movement in the holder. I switched to my old 2-arm Mitutoyo and the problems went away. The problem with the older designs is that it is a major hassle to adjust the indicator to the work. The Noga design with the fine adjuster at the base makes it easy, and the central locking mechanism makes it easy to position the indicator close to the work. Plus, its less than 40 bucks shipped from Amazon! You might consider it.
I got frustrated when doing concentricity checks with the articulating arm Nogas on my lathe and mill - too much movement in the holder. I switched to my old 2-arm Mitutoyo and the problems went away. The problem with the older designs is that it is a major hassle to adjust the indicator to the work. The Noga design with the fine adjuster at the base makes it easy, and the central locking mechanism makes it easy to position the indicator close to the work. Plus, its less than 40 bucks shipped from Amazon! You might consider it.